Eurozone inflation tops 10% for the first time

According to preliminary data, consumer prices in the eurozone increased by 10.7 percent in October compared to the same month in 2021. 

Thus, the inflation rate reached a new historical high, exceeding the ten percent mark for the first time since the introduction of the euro in 1999, the European Statistical Office (Eurostat) in Luxembourg reported on Monday, October 31, citing the first assessment of the data received.

As in the previous month, prices for energy carriers rose especially strongly in October - by 41.9 percent. Food, tobacco products and alcoholic products went up by 13.1 percent.